Mega Millions Ticket Buyer From Florida Wins $800 Million Jackpot—Here’s What They Could Take Home - Forbes

What the report says

Forbes reported that a Mega Millions ticket sold to a buyer in Florida won an $800 million jackpot in the drawing held Tuesday night, with the result published early Wednesday, July 29, 2026. The winning combination was 34, 48, 49, 59, 70 and Mega Ball 12. According to Forbes, the prize is the largest lottery jackpot won in 2026 to date.

The eventual claimant can choose between receiving the advertised $800 million through 30 yearly payments or taking a one-time cash option of $344.2 million, Forbes reported. If the winner selects the lump sum, the total would be reduced immediately by the required 24% federal withholding to about $261.6 million. Forbes estimated that, after applying a potential top federal marginal tax rate of 37%, the take-home amount could fall to roughly $216.8 million.

Forbes also noted that the annuity option would work out to about $26.7 million per year before federal taxes, or about $16.8 million annually if the 37% federal marginal rate applies. Florida does not impose a separate state tax on lottery winnings and has no state income tax, which would affect the final amount compared with winners in many other states.

The win surpassed a $533 million Mega Millions jackpot claimed by an Illinois player in March, Forbes reported. The outlet added that the odds of winning Mega Millions were 1 in 290.4 million. A separate Powerball jackpot had reached $663 million ahead of its Wednesday night drawing.